• Most Popular
  • Most Shared

BAIC to unveil better nonbinding Opel offer--paper

Thu Jul 2, 2009 3:53pm EDT

Stocks

   

FRANKFURT, July 2 (Reuters) - Chinese state-owned automaker Beijing Automotive (BAIC) will unveil an improved nonbinding offer for German carmaker Opel on Friday, a newspaper reported on Thursday.

Stocks

The Frankfurter Allgemeine Zeitung cited sources close to BAIC for its story, released in the Internet version of the paper ahead of publication on Friday.

BAIC declined to comment earlier on Thursday on reports it was going to submit a bid in the coming days.

Reuters reported earlier on Thursday that the board of directors of Canada's Magna International Inc (MGa.TO), a rival bidder, was due to approve its plan for the acquisition of Opel on Tuesday.

Two sources familiar with the matter told Reuters the Canadian auto parts supplier and Opel parent General Motors Corp GMGMQ.PK had already clarified most of the major issues in weeks of tough negotiations and they expect to resolve the last few issues holding up the takeover by July 7. [ID:nL2541989] (Reporting by Jonathan Gould; editing by Andre Grenon)

Stocks


More from Reuters

Photo

Democrats gain 60th vote on health bill

WASHINGTON (Reuters) - Senate Democrats reached a compromise on Saturday with the last holdout senator that secured the 60 votes they need to pass a broad healthcare overhaul sought by President Barack Obama.

» More Top News
A woman shops at a Sam's Club store, a division of Wal-Mart Stores, in Bentonville, Arkansas June 4, 2009. REUTERS/Jessica Rinaldi

The food-stamp economy

On the last day of every month, shoppers at Walmart load their carts with food and household items and wait for the midnight hour. Is this the new normal in America?  Full Article 

U.S.
Two men shake hands in a file photo. REUTERS/File

Let's make a deal

The battered M&A sector will make a tepid recovery in the coming year and three hot sectors will lead the way, according to a Thomson Reuters analysis.  Full Article 

Global Deals Review